Socio-economic situation in February and 2 months of 2023

1. Agriculture, forestry and fishery

Agricultural production in February focused on planting and taking care of spring rice, annual spring crops across the country. Livestock development has been stable. Forestry production focuses on implementing the Tet movement to plant trees, harvest timber to the age of exploitation, care for, protection and fight against forest fires. Aquaculture and fishing activities achieved positive results due to favorable weather for fishing vessels far from the shore.

a) Agriculture

As of mid-February, the whole country had cultivated 2,693.4 thousand hectares of spring paddy, equaling 100.5% of the same period last year, of which the northern provinces reached 823 thousand hectares, equaling 105.3%; the southern localities reached 1,870.4 thousand ha, equaling 98.5%; partiality the Mekong Delta provinces cultivated 1,475.1 thousand ha, equaling 98.2%.

In the northern provinces, the progress of cultivating spring rice was faster than the same period last year due to favorable weather, farmers take advantage of cultivating. Some localities had faster progress than the same period last year, such as Thai Binh reached 52.2 thousand hectares, equaling 254%; Hanoi reached 47.3 thousand hectares, equaling 137.6%; Hung Yen reached 8.9 thousand hectares, equaling 137.2%; Hai Phong reached 18 thousand hectares, equaling 105.9%.

The southern localities have basically completed planting spring rice and started harvesting some early rice teas. The spring rice cultivation area decreased by 28.6 thousand hectares over the same period, mainly due to the conversion of rice land to fruit trees, aquaculture, and urbanization in the Mekong Delta. In general, spring rice has grown quite well, the main rice crops have been in the tillering stage, making milk, in which the Mekong River Delta has 293.9 thousand hectares of spring rice for harvesting, accounting for 19.9% of the cultivated area and 98% over the same period last year.

Along with planting winter-spring rice, localities across the country are planting annual crops. The area of sweet potatoes, soybeans, and peanuts decreased compared to the same period last year, mainly due to low economic efficiency and difficulties in product consumption, so farmers tend to switch to growing corn and vegetables.

Livestock in the month has stable development. An abundant pork supply causes pig prices to fall[1] while feed prices continue to rise, so production costs increase, putting pressure on pig farmers. Besides, local authorities and farmers still need to proactively take preventive measures because the risk of African swine fever is still high.

As of February 23, 2023, the whole country has no longer blue-ear disease and foot-and-mouth disease; avian flu remained in Nghe An, Ninh Binh; LSD was still in Quang Ngai, Khanh Hoa and African swine fever was reported in 13 localities for less than 21 days.

b) Forestry

The area of ​​newly concentrated planted forests in Febuary 2023 was estimated at 10.7 thousand hectares, up 4.6% over the same period last year; the number of scattered forest trees reached 12.5 million trees, up 8.3%. Timber production reached 1,026.8 thousand m³, up 4.2%. Some localities have high timber production in the month compared to the same period last year, such as Quang Ngai reached 115.1 thousand m³, up 30.5%; Quang Ninh reached 69.9 thousand m³, up 117.1%; Phu Tho reached 61.4 thousand m³, up 26.9%. In the 2 months of 2023, the area of ​​newly concentrated planted forest was estimated at 18.8 thousand ha, up 4.8% over the same period last year; the number of scattered forest trees was estimated at 17 million trees, up 7.4%; timber production was estimated at 1,982.1 thous. m³, up 3.1%.

The damaged forest area in February [2] was 52.5 hectares, down 22.9% over the same period last year, of which the burned forest area was 3.5 hectares, 4.9 times higher; the forest was destroyed with 49 hectares, down 27.2%; In the 2 months of 2023, the damaged forest area was 97.7 hectares, down 29.1% over the same period last year, including the burned forest area was 6 hectares, 6 times higher; the destroyed forest area was 97.1 ha, down 32.6%.

c) Fishery

Fishery output in February, 2023 was estimated at 593.4 thousand tons, up 2.5% over the same period last year, including fish reached 451.3 thousand tons, up 2.8%; shrimp reached 62.8 thousand tons, up 0.5%; other aquatic products reached 79.3 thousand tons, up 2.3%.

It was estimated that in the month, aquaculture output reached 332.2 thousand tons, up 2.1% over the same period last year, of which fish reached 237.2 thousand tons, up 2.5%; shrimp reached 51.6 thousand tons, up 0.4%.

Pangasius exports have prospects because China has reopened customs clearance for many agricultural export products of Vietnam, including pangasius. The price of raw pangasius increased compared to the previous month^[3]. Pangasius production in February 2023 was estimated at 113.6 thousand tons, up 3.2% over the same period last year. Generally, in 2 months, pangasius production reached 223.8 thousand tons, up 3.1%.

Shrimp farming is in the transition period towards improving quality, so in many places, shrimp farmers focus on renovating and repairing ponds and lakes and focusing on the quality of seed, so disease should be limited. White leg shrimp production in the month was estimated at 31.4 thousand tons, down 0.3% over the same period last year; Black tiger shrimp production reached 15.7 thousand tons, up 1.3%. Generally, for 2 months, the white leg shrimp production reached 60.2 thousand tons, up 0.5% over the same period last year; black tiger shrimp production reached 31.3 thousand tons, up 0.3%.

The caught fishery output in the month was estimated at 261.2 thousand tons, up 3% over the same period last year including fish production reached 214.1 thousand tons, up 3.2%; shrimp reached 11.2 thousand tons, up 0.9%; other aquatic products reached 35.9 thousand tons, up 2.6%. Marine fishing output was estimated at 247.7 thousand tons, up 3.1% over the same period last year, including fish reached 205 thousand tons, up 3.2%; shrimp reached 10.4 thousand tons, up 1%.

Generally, in the 2 months of 2023, the caught fishery output was estimated at 519.6 thousand tons, down 0.5% over the same period last year including fish reached 406 thousand tons, down 0.4%; shrimp reached 21.1 thousand tons, down 0.9%; other aquatic products reached 92.5 thousand tons, down 0.9%.

Generally, in the 2 months of 2023, fishery output was estimated at 1,185.5 thousand tons, up 1.3% over the same period last year, including fish reached 885.6 thousand tons, up 1.6%; shrimp reached 121.5 thousand tons, up 0.4%; other fishery products reached 178.4 thousand tons, up 0.9%.

2. Industrial production

Industrial production in February 2023 was estimated to increase by 5.1 % compared to the previous month due to more working days and employees returning to work in enterprises. Compared to the same period last year[4], industrial production in February 2023 increased by 3.6%. However, in the first two months of 2023, the industrial production index decreased by 6.3% compared to the first 02 months of last year.

The index of industrial production (IIP) in February 2023 was estimated to increase by 5.1% over the previous last month[5] and increased by 3.6 % over the same period last year. Of which, the mining and quarrying increased by 7%; the manufacturing increased by 3.3%; electricity production and distribution increased by 2.8%; Water collection, treatment and supply  peaked by 6 %.

Generally, in the first two months of 2023, IIP was estimated to decrease by 6.3% over the same period last year ( in the same period last year up 5.6%) due to the world economy continuing to face many difficulties and unpredictable fluctuations. Inflation in other countries, although cooled down, was still high, orders decreased, and export turnover decreased[6]. Of which, the mining and quarrying decreased by 3.8% (the same period last year up 0.1%), down by 0.6 percentage points in the general growth rate; the manufacturing decreased by 6.9% (the same period last year up 6.1%), reducing by 5.3 percentage points; electricity production and distribution decreased by 5.2% (the same period last year up 8.4%), reducing 0.5 percentage points; Water collection, treatment and supply peaked up by 2.3% (the same period last year up 3.7%), contributing 0.1 percentage points.

The index of production in the first 02 months of 2022 belonging to 2-digit industrial activities significantly decreased compared to the same period last year: Manufacture of electrical (-50.7%); Manufacture of furniture (-13.6%); manufacture of paper and paper products (-13%); Manufacture of basic metals (-12.2%); manufacture of wearing apparel (-11.7%); manufacture of textiles (-11%); manufacture of other transport equipment and manufacture of other non-metallic mineral products (-8.6%); trailers and semi-trailers (-6%); manufacture of leather and related products (-5.3%). Besides, the IIP index of some industries increased over the same period last year: Manufacture of beverages (32.4%); manufacture of coke and refined petroleum products (20%); Repair and installation of machinery and equipment (6.5%); Manufacture of pharmaceuticals, medicinal chemical and botanical products (6.1%); Manufacture of rubber and plastics products (6%); water collection, treatment and supply (4.3%); mining of metal ores (4.2%).

The index of industrial production in the first 02 months of 2023 over the same period last year increased in 44 localities and decreased in 19 localities across the country. Some localities with IIP index achieved a relatively high increase due to manufacturing industries; Electricity, gas, steam and air conditioning supply increased[7]. On the other hand, some localities have low in IIP index due to manufacturing industries; Mining and quarying and Electricity, gas, steam and air conditioning supply decrease[8].

 Some major industrial products in the first 2 months of 2023 decreased compared to the same period last year: Automobile (-18.3%); Laminated steel (-15.1%); clothes (-14.8%); steel bars and corners (-13.8%); textile fabric from natural yarn (-13.3%); motorbike (-12.4%); mobile phone (-9.6%); powder milk (-7.8%); Extracted crude oil (-5.8%); cement (-5.6%); generated electricity (-4.8%); liquidized gas (LPG) (-4.7%). Besides, the number of products increased compared to the same period last year: Beer (33.5%); petroleum (21.6%); textile fabric from polyester or artificial yarn (8%).

The number of employees working in industrial enterprises as of 01/02/2023 increased by 0.5 % compared to the same period last month and decreased by 1.1% compared to the same period last year. Of which, the number of working employees in the state-owned enterprise sector decreased by 0.1% and increased by 0.4%; non-state enterprises decreased by 0.2% and 1.3%; enterprises of foreign direct investment increased by 0.8% and decreased by 1.1%. By activity, the number of employees working in mining and quarrying increased by 0.1% over the same period last month and by 0.2% over the same period last year; manufacturing increased by 0.5% and decreased by 1.1%; the production and distribution of electricity unchanged and decreased by 2.5%; the water supply, sewerage, waste management, and remediation activities increased by 0.3 % and by 0.6%.

3. Enterprise registration status ^[9]

In February 2023, the whole country had 8,841 newly established enterprises with registered capital were 65.6 trillion VND and a total number of registered employees of nearly 51.1 thousand employees, a decrease of 18.5% in the number of enterprises, a decline of 33.8% in the registered capital and down 25.6% in the number of employees compared to last month; Compared to the same period last year, up 21.4% in the number of enterprises, a decrease of 23.1% in the registered capital, and down 29.6% in the number of employees. The average registered capital of a newly established enterprise in the month reached 7.4 billion VND, a decrease of 18.9% compared to last month, and down 36.6% compared to the same period last year. There were 3,927 re-operated enterprises in the whole country, down 73.9% compared to the previous month and down 3.5% compared to the same period in 2022.

In February 2023, 3,802 enterprises ceased for a certain time, down 89.1% compared to last month and up 9.7% compared to the same period in 2022; 2,636 enterprises temporarily ceased and awaited dissolution procedures, a decrease of 61.5% and up 37.5%; 1,167 enterprises completed dissolution procedures, down 42.7% and down 5.4%.

In the first 2 months of 2023, there were 38.8 thousand enterprises temporarily ceased for a certain time, an increase of 18.5% compared to the same period last year; 9.4 thousand enterprises temporarily ceased and awaited dissolution procedures, a climb up 5.8%; 3.2 thousand enterprises completed dissolution procedures, a decrease of 1.6%. On average, 25.7 thousand enterprises withdraw from the market each month.

 4. Investment

Investment capital from the State budget in February was focused on implementing by ministries, branches and localities, speeding up the implementation of public investment projects, especially transitional projects. Generally, in the first two months of 2023, investment capital realized from the State budget was estimated at 8.3% of the plan, up 18.3% over the same period last year. Newly registered foreign direct investment (FDI) capital as of February 20, 2023 was estimated at 1.76 billion USD, 2.8 times higher than the same period last year.

Realized investment capital from the State budget in February was estimated at nearly 30 trillion VND, up 36.9% over the same period last year, including: Centrally managed capital reached more than 6 trillion VND, up 54.7%; local capital under management was 23.9 trillion VND, up 33%. However, new construction projects are still in the process of completing investment procedures, so they also have a certain influence on the overall implementation progress. Generally, for the first two months of 2023, investment capital realized from the state budget was estimated at 56.9 trillion VND, equaling 8.3% of the year plan and increasing by 18.3% over the same period last year (in 2022 by 8% and increasing by 14.6%). Specifically:

– Realized investment capital under central management was estimated at 10.5 trillion VND, equaling 7.9% of the year plan and increasing 40.1% over the same period last year.

 – Realized investment capital under local management was estimated at nearly 46.4 trillion VND, equaling 8.4% of the year plan and increasing by 14.3% over the same period last year, of which:

Provincial state budget capital reached 31.6 trillion VND, equaling 7.9% and increasing 17.2% over the same period in 2022;

State budget capital at district level reached 12.9 trillion VND, equaling 9.7% and increasing by 10.1%;

State budget capital at commune level reached 1.9 trillion VND, equaling 10.3% and decreasing by 1.2%.

Investment capital made from the State budget in the first two months of 2023 of a number of provinces and centrally-run cities was as follows:

The registered capital of foreign investment in Vietnam from the beginning of the year to February 20th, 2023[10], including newly registered capital, adjusted registered capital, and the total value of capital contribution and share purchases of foreign investors reached 3.1 billion USD, decreased by 38% compared to the year 2022.

­­­– Newly registered capital has 261 licensed projects with the registered capital reaching 1.76 billion USD, up 42.6% over the same period last year in terms of the number of projects and 2.8 times higher in the registered capital. In which, the processing and manufacturing industry was newly licensed with the largest foreign direct investment with the registered capital of 1.45 billion USD, accounting for 82% of the total newly registered capital; transportation and warehousing reached 130.1 million USD, accounting for 7.4%; the remaining industries reached 186.7 million USD, accounting for 10.6%.

Among 37 countries and territories with newly licensed investment projects in Vietnam in the first 2 months of 2023, Singapore is the largest investor with 769.3 million USD, accounting for 43.6 % of total newly registered capital; followed by China with 254.3 million USD, accounting for 14.4%; Taiwan 234.6 million USD, accounting for 13.3%; Sweden 154 million USD, accounting for 8.7%; Hong Kong Special Administrative Region (China) 83.6 million USD, accounting for 4.7%; Japan 70.5 million USD, accounting for 4%;

– Adjusted registered capital has 133 times of licensed projects from previous years registered to adjust investment capital, increasing by 535.4 million USD, down 85.1% over the same period last year.

If including newly registered capital and adjusted registered capital of projects licensed in previous years, the registered foreign direct investment capital in the processing and manufacturing industry reached 1.91 billion USD. accounting for 83.3% of total newly and additionally registered capital; transportation and warehousing reached 134.2 million USD, accounting for 5.8%; the remaining industries reached 250.6 million USD, accounting for 10.9%.

– Registered capital for capital contribution and share purchase by foreign investors had 440 turns with a total value of a capital contribution of 797.9 million USD, up 3.7% over the same period last year. Of which, there were 108 times of capital contribution and share purchase to increase the charter capital of the enterprise with a capital contribution value of 467.6 million USD and 332 times of foreign investors buying back domestic shares without increasing the charter capital with the value of 330.1 million USD. For the form of capital contribution and share purchase by foreign investors, the investment capital in the real estate business reached 331.5 million USD, accounting for 41.6% of the value of capital contribution; the processing and manufacturing industry reached 257.8 million USD, accounting for 32.3%; the remaining industry was 208.5 million USD, accounting for 26.1%.

Foreign direct investment capital realized in Vietnam in the first two months of 2023 was estimated at 2.55 billion USD, down 4.9% over the same period last year. In which: Processing and manufacturing industry gained 1.97 billion USD, accounting for 77.6% of total realized foreign direct investment capital; production and distribution of electricity, gas, hot water, steam and air conditioners reached 231.8 million USD, accounting for 9.1%; real estate business reached 154.3 million USD, accounting for 6%;

 Vietnam’s investment abroad in the first 2 months of 2023 has 10 projects newly granted investment certificates with a total capital of 109.4 million USD from the Vietnamese side, 2.1 times higher than the same period last year; There were 04 times of capital adjustment projects with the adjusted capital increased by 5.7 million USD (-7.2 million USD in the same period).

In general, Vietnam’s total investment abroad (newly and adjusted capital) reached 115.1 million USD, 2.6 times higher than the same period last year. In which: Information and communication field reached 105 million USD, accounting for 91.2% of total investment capital; other services reached 5 million USD, accounting for 4.3%; wholesale, retail and repair of automobiles, motorcycles, motorbikes and other motor vehicles reached 2.2 million USD, accounting for 1.9%.

In the first two months of 2023, there are 10 countries and territories receiving investment from Vietnam, in which: Singapore is the leading country with 105.5 million USD, accounting for 91.7% of total investment capital; Israel 5 million USD, accounting for 4.3%; Thailand 1.6 million USD, accounting for 1.4%; Laos 940.4 thousand USD, accounting for 0.8%; American 800 thousand, accounting for 0.7%.

5. State budget revenue and expenditure [11]

State budget revenue in the first two months of 2023 was estimated to increase by 10.6% over the same period last year. State budget expenditure was estimated to increase by 6% over the same period in 2022, ensuring needs of socio-economic development, defense, security, state management, payment of due debts as well as timely payment for specified objects.

 Total state budget revenue in February 2023 was estimated at 124.6 trillion VND. Accumulated total state budget revenue in the first two months of 2023 reached 362.3 trillion VND, equaling 22.4% of the yearly estimate and increasing by 10.6% over the same period last year. Some of the main revenues are as follows:

– Domestic revenue in February 2023 was estimated at 100.4 trillion VND. Accumulation in the first two months of 2023 reached 315.5 trillion VND, equaling 23.6% of the yearly estimate and increasing 17% over the same period last year.

– Revenue from crude oil in February 2023 was estimated at 5.3 trillion VND. Accumulation in the first two months of 2023 reached 10.8 trillion VND, equaling 25.7% of the yearly estimate and increasing by 13.2% over the same period last year.

– Balanced budget revenue from import and export activities in February 2023 was estimated at 18.9 trillion VND. Accumulation in the first two months of 2023 reached 36 trillion VND, equaling 15% of the year estimate and decreasing by 25.5% over the same period last year.

State budget expenditure:

Total state budget expenditure in February 2023 was estimated at 112.7 trillion VND; accumulated in the first two months of 2023 was estimated at 242 trillion VND, equaling 11.7% of the year estimate and increasing by 6% over the same period last year. Of which, regular expenditure in the first two months of 2023 reached 171 trillion VND, equaling 14.6% of the yearly estimate and increasing by 4.7% over the same period last year; development investment expenditure reached 49.2 trillion VND, equaling 6.8% and increasing by 10.4%; debt payment interest was 21.7 trillion VND, equaling 21% and increasing by 6.8%.

6. Trade, prices, transport, and tourism

a) Retail sales of consumer goods and services

People’s consumption demand returned to the normal state according to the law of consumption after the Lunar New Year, so the total retail sales of consumer goods and services in February 2023 decreased by 6% compared to the previous month but still increased by 13.2% over the same period last year. In the first two months of 2023, the total retail sales of consumer goods and services increased by 13% over the same period last year.

Retail sales of consumer goods and services in February was estimated at  481.8 trillion VND, down 6% from the previous month and up 13.2% over the same period last year. In the first 2 months of 2023, the retail sales of consumer goods and services was estimated at 994.2 trillion VND, up 13% over the same period last year (up 0.9% in the same period in 2022). If excluding the price factor, the increase would be 9.2% (in the same period in 2022, decreased by 1.1%).

 Retail sales of consumer goods and services in the first 2 months of 2023 increased by 24.9% compared to the first 2 months of 2019 – the year before the Covid-19 pandemic. However, the retail sales of consumer goods and services in the first 2 months of 2023 only equaled 77.7% of this indicator in terms of scale if it was estimated in the normal condition without the Covid-19 epidemic in the assumption from 2020 to the present.

 Retail sales of goods in the first 2 months of 2023 were estimated at 781.8 trillion VND, up 10.1% over the same period last year (excluding the price factor, increased by 6.5%). In which, the group of garment increased by 18.4%; food and foodsuff increased by 12.5%; household appliances, tools and equipment increased by 4%; means of transport (except for cars) increased by 3.4%; cultural and educational products decreased by 3.7%. Retail sales of goods in in the first 2 months of 2023 compared to the same period last year of some localities were as follows: Da Nang increased by 12.6%; Quang Ninh increased by 10.6%; Dong Nai increased by 9.7%; Ho Chi Minh City increased by 9.2%; Ha Noi increased by 9.0%; Hai Phong increased by 8.9%; Can Tho increased by 2.7%; Binh Duong increased 2.4%.

Revenue from accommodation and food services in the first 2 months of 2023 was estimated at 109.1 trillion VND, up 31.6% over the same period last year. Revenue in 2 months of 2023 compared to the same period last year of some localities were as follows: Da Nang increased by 114.7 percent (decreased by 29% in 2022); Khanh Hoa increased 65.7%; Quang Ninh increased by 47.7%; Ho Chi Minh City increased by 45.1%; Dong Nai increased by 25.4%; Hanoi increased by 21.9%; Binh Duong increased by 6.2%.

Revenue from tourism and travel services in the first 2 months of 2023 was estimated at 4.7 trillion VND, 2.2 times higher than the same period last year. Revenue in 2 months of 2023 of some localities compared to the same period last year were as follows: Hai Phong was 17.5 times higher; Tay Ninh was 15.9 times higher; Da Nang was 7.1 times higher; Ha Noi was 3.1 times higher; Ho Chi Minh City increased by 84.4%; Lang Son increased by 27.1%; Ninh Binh increased by 17.8%; Kon Tum increased by 6.2%; Binh Duong increased by 5.2%; Ha Giang increased by 2.9%; Lai Chau increased by 0.9%.

Revenue from other services in the first 2 months of 2023 was estimated at 98.6 trillion VND, up 16.2% over the same period last year. Specifically, the growh rate in the first two months of the year compared to the same period last year of some localities was as follows: Da Nang increased by 86.4%; Dong Nai increased by 26.5%; Khanh Hoa increased by 22.4%; Vung Tau increased by 14.6%; Hai Phong increased by 11.3%; Ha Noi increased by 10.7%; Quang Binh increased by 9.6%; Can Tho increased by 3.8%; Nam Dinh decreased by 0.3%; Bac Ninh decreased by 8.1%; Ho Chi Minh City fell 8.3%.

b) Export and import of goods[12]

In February 2023, the import and export of goods turnover was estimated at 49.46 billion USD, went up 6.1% compared to previous months and went up 1.8% over the same period last year. Generally, in two months of 2023, the total import and export turnover of goods[13] reach 96.06 billion USD, went down 13.2% over last year, of which exports decreased by 10.4%; imports decreased by 16%^[14]. The trade balance of goods in two months of 2023 was estimated to have a trade surplus of 2.82 billion USD.

 Preliminary export turnover of goods in January 2023 reached 23.56 billion USD, 1.520 million USD lower than the estimated figure.

Export turnover in February 2023 was estimated at 25.88 billion USD, increased by 9.8% over the previous month, of which the domestic economic sector gained 6.08 billion USD, increased by 11.7%; the FDI sector (including crude oil) reached 19.8 billion USD, increased by 9.3%. Compared to the same period last year, export turnover of goods in February went up 11%, of which the domestic economic sector increased by 5.7%, the FDI sector (including crude oil) increased by 12.7%.

Generally in two months of 2023, the export turnover was estimated at 49.44 billion USD, decreased by 10.4% over the same period last year. Of which, the domestic economic sector was 11.52 billion USD, went down 21.1%, accounting for 23.3% of total export turnover; the FDI sector (including crude oil) attained 37.92 billion USD, decreased by 6.6%, sharing 76.7%.

In two months of 2023, there were 08 products with export turnover of over 1 billion USD, contributing 69.9% to the total export turnover (03 products with export turnover of over 5 billion USD, accounting for 45.9%).

Regarding the structure of exported groups in January 2023, the group of fuels and minerals was estimated at 652 million USD, accounting for 1.3%; the group of processing industry was estimated at 44.38 billion USD, accounting for 89.8%;  agricultural and forestry products was estimated at 3.4 billion USD, accounting for 6.9%; the group of fishery products was estimated at 1.01 billion USD, accounting for 2%.

Import of goods

Preliminary import turnover of goods in January 2023 reached 23.04 billion USD, 1.560 million USD higher than the estimated figure.

Import turnover in February 2023 was estimated at 23.58 billion USD, increased by 2.3% over the previous month. Of which the domestic economic sector gained 7.7 billion USD, increased by 2.5%; the FDI sector reached 15.88 billion USD, increased by 2.3%. Compared to the same period last year, the import turnover of goods in February decreased by 6.7%, of which the domestic economic sector decreased by 7.2%; the FDI sector decreased by 6.4%.

Generally in two months of 2023, the import turnover was estimated at 46.62 billion USD, decreased by 16% over the same period last year. Of which the domestic economic sector reached 15.21 billion USD, went down 17.3%; the FDI sector gained 31.41 billion USD,  down 15.3%.

In two months of 2023, there were 13 imported products with a turnover of over 1 billion USD, accounting for 69.1% of total import turnover (02 products with import turnover of over 5 billion USD, accounting for 39.3%).

 Regarding the structure of imported groups in two months of 2023, the group of production materials was estimated at 43.64 billion USD, accounted for 93.6%, in which the group of machinery, equipment, tools spare parts accounted for 46.3%; raw materials, fuel and materials accounted for 47.3%. The group of consumer products was estimated at 2.98 billion USD accounted for 6.4%.

Regarding the export, import market of goods in two months of 2023, the United States was Viet Nam’s largest export market with a turnover of 13.1 billion USD. China remained the largest import market of Viet Nam with a turnover of 14.6 billion USD. In two months of 2023, the trade surplus to the EU reached 4.8 billion USD, rose by 1.8% over the same period last year; trade deficit from China was 6.4 billion USD, went down 39.8%; trade deficit from Korea was 4.7 billion USD, going down 27.2%; trade deficit from ASEAN was 1.5 billion USD, decreased by 23.9%; trade deficit from Japan was 237.2 million USD, increased by 4.5%.

The trade balance of goods in January 2023 witnessed a trade surplus of 0.52 billion USD^[15]; trade surplus for February 2023 was 2.3 billion USD; trade surplus in two months of 2023 was estimated at 2.82 billion USD (the same period last year saw a trade deficit of 0.3 billion USD). Of which the domestic economic sector saw a trade deficit of 3.69 billion USD; the FDI sector (including crude oil) saw a trade surplus of 6.51 billion USD.

c) Consumer price index, gold price index and US dollar price index

Petrol and domestic gas prices increase according to world fuel prices; rental housing prices continued to increase due to high demand after the Lunar New Year, which was the main reason for the consumer price index (CPI) in February 2023 to increase by 0.45% compared to the previous month. Compared to December 2022, February, CPI increased by 0.97% and over the same period last year by 4.31%.

On average, in the first two months of 2023, CPI increased by 4.6% over the same period in 2022; core inflation increased by 5.08%.

 In the increase of 0.45% of CPI in February 2023 compared to the previous month, there were 05 groups of goods and services with an increase in price index, and 06 groups of goods with a decrease in price index.

Five groups of goods and services with increasing price index include:

– The transport group had the highest increase, increasing by 2.11% mainly due to the increase in gasoline and oil prices by 5.66% (making the general CPI increase by 0.2 percentage points) due to the influence of gasoline price adjustments, oil on February 13, 2023 and February 21, 2023. Besides, the price of public transport services increased by 2.58%, of which the price of passenger transport services by rail increased by 32.92%; passenger transport services by air increased by 6.63% due to high travel demand in the month of Tet.

– Housing and construction materials increased by 1.81% due to 14.56% increase in gas price, from February 1st, 2023, domestic gas price was adjusted to increase by 63,000 VND/12 kg bottle after world gas prices increased by 192.5 USD/ton (from 597.5 USD/ton to 790 USD/ton); electricity price for daily life increased by 1.12%[16]; price of housing maintenance materials increased by 0.99%; house rent increased by 0.28%. In the opposite direction, kerosene price decreased by 1%; the price of domestic water decreased by 2.06%[17].

– The group of other goods and services increased by 0.12%, focusing on the price of jewelry, which increased by 0.78% according to the domestic gold price; bags, suitcases, wallets increased by 0.2%; wedding supplies and services increased by 0.47%. In the opposite direction, hair cutting and shampooing services decreased by 0.17% compared to the previous month.

– Equipment and household appliances group increased by 0.09%. In which, the price of washing machine increased by 0.46%; egg beaters, multi-function mixers increased by 0.35%; microwave oven, oven, induction cooker by 0.35%; rice cookers increased by 0.33%; electric irons increased by 0.26%. In the opposite direction, the price of air conditioners decreased by 0.31%; printers, projectors, scanners down 0.26%; blankets, curtains, pillows down 0.24%; aluminum and stainless steel items decreased by 0.15%.

– Medicines and medical services increased by 0.02%.

 (2) The six groups of goods and services have decreased price index:

– Education group decreased by 0.57% (making the general CPI decrease by 0.04 percentage points), of which the group of educational services decreased by 0.66%. The main reason is that on December 20, 2022, the Government issued Resolution No. 165/NQ-CP, which required localities to keep the tuition fee rate stable for the 2022-2023 school year like the 2021-2022 school year in order to continue to support the people, some localities[18] have adjusted to reduce the tuition fee after being collected according to Decree No. 81/2021/ND-CP dated August 27, 2021 of the Government.

– Food and foodsuff services decreased by 0.17% (making CPI decrease by 0.05 percentage points), of which: Food increased by 0.26%[19]; foodstuff decreased by 0.49%[20]; eating out of the family increased by 0.45%[21].

– Beverage and cigarettes decreased by 0.12% due to the decrease in consumption laws after the Lunar New Year, so alcohol prices decreased by 0.22% compared to the previous month; smoking decreased by 0.12%. Particularly, the prices of juices and energy drinks increased by 0.47% and 0.34% respectively due to high consumption demand when people go to spring and New Year festivals.

– Postal services and telecommunications decreased by 0.1%.

– The group of garments, hats and shoes decreased by 0.08% because the price of towels, scarves, gloves and socks decreased by 0.12%; ready-to-wear decreased by 0.13% as consumer demand dropped after the Lunar New Year. In the opposite direction, the price of all kinds of fabrics increased by 0.07%; garment services increased by 0.08% and footwear services increased by 0.22%.

– Culture, entertainment and tourism group decreased by 0.02%.

Core inflation [22] in February 2023 increased by 0.25% over the previous month, up by 4.96% over the same period last year. In the first two months of 2023, average core inflation increased by 5.08% compared to the same period in 2022, higher than the general average CPI (up by 4.6%) mainly due to gasoline prices from July The decrease from 2022 to December 2022 is a limiting factor in the overall CPI growth rate of a group of goods excluded from the basic inflation calculation list.

The domestic gold price fluctuates inversely with the world gold price. World gold prices fell as the US dollar appreciated after the US Federal Reserve (FED) raised interest rates to curb inflation. Rising USD interest rates encourage capital flows not to invest in gold. As of February 25, 2023, the average world gold price was at 1,858.35 USD per ounce, down 0.98% compared to January 2023. Domestically, the gold price index in February 2023 increased by 0.92% compared to the previous month; increased by 2.62% over the same period last year; on average, in the first two months of 2023, the domestic gold price index increased by 3.1%.

The US dollar in February 2023 on the world market increased after the FED raised the reference interest rate by 0.25 percentage points, bringing the interest rate to 4.5%-4.7% and CPI in January 2023 in the US was announced. As of February 25, 2023, the US dollar index on the international market reached 103.41 points, up 0.49% over the previous month. Domestically, the average US dollar price on the free market fluctuated around 23,740 VND/USD. The US dollar price index in February 2023 increased by 0.2% compared to the previous month due to the guaranteed supply and increased by 3.67% over the same period last year. On average, in the first two months of 2023, the domestic US dollar price index increased by 3.42%.

d) Transport

People’s travel demand in February decreased after the Lunar New Year so passengers carried decreased by 2.3%  and passenger traffic decreased by 0.7%; freight carried increased by 3.9% and freight traffic increased by 0.8%.

Generally, for the first 2 months of 2023, passengers carried increased by 34.3% over the same period last year, passengers traffic increased by 69.9% and freight carried increased by 15.7%, freight traffic increased by 20.3% .

Passengers transport in February 2023 was estimated at 363.3 million passengers, increase of 23.7% over the same period last year and 20.8 billion passengers-kilometers, an increase of 54.1%. Generally, in the first 2 months of 2023, passenger carried estimated at 735.6 million passengers, up 34.3% over the same period last year (decreased by 20.4% in the same period in 2022) and passenger traffic reached 41.8 billion passengers.km, an increase of 69.9% (in the same period last year, a decrease of 15.9%). In which, domestic transport reached 733.3 million passengers carried, up 33.9% over the same period last year and 31.5 billion passengers-kilometers, up 30.1%; Overseas transport got 2.3 million passengers, 23.3 times higher than the same period last year and 10.3 billion passengers-kilometers, 26.6 times higher.

In terms of transportation, all industries in the first two months of 2023 increased sharply compared to the same period last year.

Freight transport in February 2023 was estimated at 191 million tons of freight carried, up 27.8% over the same period last year and 38.1 billion tons-km of freight traffic, up 23.5%. Generally, in the first 2 months of 2023, freight transport was estimated at 374.7 million tons of freight carried, up 15.7% over the same period last year (in the same period in 2022, increasing by 1.5%) and 76 billion tons.km of freight traffic, an increase of 20.3% (in the same period last year, an increase of 9%). In which, domestic transport reached 367.3 million tons of freight carried, up 15.6% and 47.5 billion tons-kilometers of freight traffic, up 24.2%; overseas transport reached 7.4 million tons freight carried, up 22.5% and 28.5 billion tons-kilometers of freight traffic, up 14.3%.

đ) International visitors to Viet Nam[23]

International visitors to our country in February[24] were estimated at 933 thousand arrivals, increased by 7.1% compared to the previous month and 31.6 times higher than the same period last year because Viet Nam has opened up to tourism, international routes have been restored. Generally, in the first 2 months of 2023, international visitors to Viet Nam were estimated at 1,804.1 thousand arrivals, 36.6 times higher than the same period last year but still less than 60% compared to the same period in 2019, the year without Covid-19 epidemic.

Out of a total of nearly 1,804.1 thousand international visitors to Viet Nam in the first 2 months of this year, visitors coming by airway gained 1,636.2 thousand persons, accounting for 90.7% of the number of international visitors to Viet Nam, 37.8 times higher than the same period last year; by roadway achieved 154.9 thousand arrivals, accounted for 8.6% and 25.9 times higher; by seaway achieved 13 thousand arrivals, accounted for 0.7% and 464.3 times higher.

 7. Some social situation

a) Residential life

According to the survey, the living situation of households in February 2023 continues to improve. The rate of assessed income in the month remained unchanged and increased compared to the same period last year was 93.9% (up 1 percentage point over the same period last year); The rate of assessment with reduced income was 6.1%.

The main reasons for low income are highly appreciated by households as follows: 43% of households have members who have lost their jobs/retired from work; 27.7% assessed it due to the increase in input costs of production and business activities of the household and 24% assessed it due to the decrease in the sale of products from production and business activities of the household.

Regarding the impact of negative events on life in the first two months of 2023 as assessed by households: 33.4% of households are suffering from the effects of high prices of goods and services; 5% of households are negatively affected by epidemics for humans and 2% of households are negatively affected by diseases for livestock and crops.

In February 2023, nearly 12% of the interviewed households received help from different sources of support. Specifically, the percentage of households receiving help from relatives and relatives was 7.3%; from local programs and policies was 4%; from general programs and policies of the country was 3.4%; from charitable activities of other organizations and individuals is 2.1% and from other sources was nearly 0.02%.

Ensuring social security is always promptly and effectively implemented by all levels and sectors. In order to prevent people from going hungry, in February 2023, the Prime Minister issued Decision No. 139/QD-TTg dated February 21, 2023 to support 256.7 tons of rice for about 4,854 households with 17.1 thousands of people are at risk of starvation in the harvest season in 2023. According to a report from the Ministry of Labor, War Invalids and Social Affairs, in the first two months of 2023, the Government has supported more than 18.2 thousand tons of rice for 204.7 thousand households with 1.2 million people, of which: 16.9 thousand tons of rice to support people during the Lunar New Year; to support people in the period of the year 2023 with more than 1.3 thousand tons of rice.

b) Epidemic situation, food poisoning

According to the report of the Ministry of Health, in the month (January 19 to February 18, 2023), the whole country had 3,247 cases of dengue fever; 474 cases of hand, foot and mouth disease; 10 cases of typhus suspected measles. Generally, in the first two months of 2023, the whole country has nearly 12.9 thousand cases of dengue fever; 04 cases of viral encephalitis; 1,052 cases of hand, foot and mouth disease; 15 cases of typhus suspected measles.

The world’s Covid-19 epidemic continues to be complicated [25], with the US being the country with the highest number of cases and deaths in the world (about more than 105 million cases and 1.1 million deaths). In Vietnam, localities continue to strengthen epidemic prevention, control and control, especially at border gate areas to detect suspected cases of Covid-19, especially those entering Vietnam from outbreak areas and from where new variants emerged. Since the first case of Covid-19 in Vietnam on January 23, 2020 to February 22, 2023, Vietnam has more than 11.5 million cases, of which 10.6 million cases have been cured and 43.2 thousand deaths.

Vaccination against Covid-19 continues to be carried out under the guidance of the Ministry of Health to ensure the requirements of the Government, the Prime Minister and the National Steering Committee for Covid-19 prevention and control. From March 8, 2021 to February 20, 2023, the total number of doses of vaccine against Covid-19 was 266.2 million doses, of which the first dose was 90.5 million doses; 2nd injection was 85.9 million doses; additional doses of 14.5 million doses; 1st booster dose was 57.7 million doses; 2nd booster dose was 17.6 million doses.

The total number of people living with HIV in the country as of February 18, 2023 was 223.5 thousand people and the number of people who have died from HIV/AIDS in the whole country up to this point was 112.7 thousand people.

Regarding food poisoning, in February 2023, there were 10 cases with 179 people being poisoned (03 cases of death). Generally, in the first two months of 2023, there were 13 cases of poisoning in the whole country with 209 people being poisoned (4 deaths).

c) Cultural and sports activities

In the first two months of 2023, many traditional festivals and cultural and artistic activities are held everywhere, creating a unique and impressive picture across the country. Especially, from February 1st to 28th, 2023 at the Vietnam Ethnic Culture and Tourism Village (Dong Mo, Son Tay, Hanoi) cultural activities will take place to celebrate the Party and the Lunar New Year 2023. with the theme “Spring colors in all regions of the Fatherland” in order to honor the cultural identities of the ethnic groups and contribute to strengthening the great solidarity of the whole nation at the “Common House” of the community of 54 ethnic groups in Vietnam.

The mass sports movement continued to be promoted, physical training and sports movements were widely organized, a number of outstanding activities took place in the month such as: the 2023 National National Wrestling Championship held in Hanoi. Quoc Oai district, Hanoi; THACO Marathon For Traffic Safety was held in Sa Thay district, Kon Tum province; night running race for the poor was held in District 1, Ho Chi Minh City; The first qualifying round of the Northern Vietnam Youth Football Championship was held in Hanoi.

In terms of high-achieving sports, in February 2023, there were a number of outstanding events and achievements such as: Sun Group and the Vietnam Football Federation (VFF) signed a cooperation agreement to develop Vietnamese football. South, the period from February 1st, 2023 to January 31, 2026; The clubs have carefully prepared, ready for dramatic matches in the National Football Cup 2023 and the National First Division Football Championship 2023 (Gold Star V.League 2-2023); At the 2023 Asian Indoor Athletics Championships, the Vietnamese team won 01 gold and 01 silver medal.

d) Traffic accident ^[26]

In February (from January 15 to February 14, 2023), there were 832 traffic accidents in the whole country, including 627 traffic accidents from less serious and over, 205 traffic collisions, causing 539 deaths, 336 injuries and 229 minor injuries. Compared with the previous month, traffic accident cases increased by 4.4% (the number of traffic accidents from less serious and over up 4% and the number of traffic collisions up 5.7%); the number of deaths decreased by 6.1%; the number of injured people decreased by 9.8% and the number of minor injuries decreased by 15.1%. Compared with the same period last year, traffic accident cases in February down 17.7% (the number of traffic accidents from less serious and over down 13.3% and the number of traffic collisions down 28.8%); the number of deaths decreased by 13.1%; the number of injured people down 6.4% and the minor injuries decreased by 24.2%.

Generally, in the first two months of 2022, there were 1,629 traffic accidents nationwide, including 1,230 from less serious and over and 399 traffic collisions, killing 1.047 people, 642 injuries, and 428 minor injuries. Compared with the same period last year, traffic accident cases in the first 2 months of this year decreased by 17.5% (the number of traffic accidents from less serious and over decreased by 12.8%; the number of traffic collisions decreased by 29.3%); the number of deaths decreased by 11.6%; the number of injured people decreased by 7.6% and the number of minor injuries decreased by 24.2%. On average per day in the first 2 months this year, there were 26 traffic accidents nationwide, including 20 traffic accidents from less serious and over, 6 traffic collisions, causing 17 deaths, 10 injuries, and 7 minor injuries.

đ) Damage caused by natural disasters [27]

The damage caused by natural disasters in February was mainly due to the influence of heavy rain, flooding, and landslides that caused 30 houses to collapse, washed away and damaged; 2.4 thousand hectares of rice and crops were damaged; the total value of property damage caused by natural disasters in the month was 15.4 billion VND, down 81.7% over the same period last year. Generally, in the first two months of this year, 123 houses collapsed and were damaged; 2.6 thousand cattle and poultry died; 9 thousand hectares of paddy and crops were damaged; total value of property damage was estimated at 31.5 billion VND, down 95.1% over the same period in 2022.

e) Environmental protection and fire and explosion prevention

In February 2023, according to reports from the Statistics Departments of provinces and centrally run cities, the authorities detected 1,386 cases of environmental violations, of which 1,349 cases were handled with a total fine of nearly 18.2 billion VND, down 34.8% from the previous month and down 30.7% over the same period last year. Generally, in the first two months of this year, 4,266 cases of environmental violations were detected, of which 3,747 cases were handled with a total fine of 46.2 billion VND, down 11.5% over the same period last year.

In the Month[28], the whole country had 154 fires and explosions, causing 3 deaths and 4 injuries, with an estimated damage of 9.5 billion VND, up 32.3% over the previous month and down 57% over the same period last year. Generally, in the first two months of this year, there were 303 fires and explosions in the whole country, killing 8 people and injuring 11 others. The damage was estimated at 16.7 billion VND, down 63.8% over the same period last year.

[1] As of February 23, 2023, the national average price of live pork in February 2023 fluctuated between 48,000 – 53,000 VND/kg, varying from place to place; February retail pork prices fell 1.62% compared to January.

[2] According to the Ministry of Agriculture and Rural Development from 16/01/ 2023 to 15/02/2023.

[3] Source: http://agromonitor.vn/group/48/280/giam-sat-gia: Price of raw pangasius in February 2023 in the Mekong Delta of 0.8 – 1.1 kg/fish from 29,000 – 30,000 VND/kg, an increase of 1,000 VND/kg compared to the previous month.

[4] The 02/2022 IIP over the same period last year increased by 9.2%.

[5] The IIP index in February 2023 compared with the previous month of some localities with high industrial scale was: Binh Duong (23.3%); Tra Vinh (22.6%); Vinh Long (20.4%); Hai Duong (13.7%); Ho Chi Minh City (12.4%); Dong Nai (10.1%); Long An (10%); Ha Noi (9.4%); Ba Ria – Vung Tau (7.2%).

[6] Export turnover in the first two months of 2023 was estimated at 49.44 billion USD, down 10.4% over the same period last year.

[7] Localities with production index of the processing and manufacturing industry in the first two months of 2023 increased compared to the same period last year: Tuyen Quang increased by 26.3%; Hai Phong increased by 14.4%; Hai Duong and Phu Tho increased by 14.3%; Kon Tum increased by 13.4%; Bac Giang increased by 11.9%; An Giang increased by 11.8%; Hau Giang increased by 8.9%. Localities with a high increase in the index of electricity production and distribution: Hau Giang increased by 208.2%; Thai Binh increased by 74.5%; Quang Tri increased by 40.6%.

[8] Localities with low or low growth in the production index of the processing and manufacturing industry in the first two months of 2023 decreased compared to the same period last year: Quang Nam decreased by 38.9%; Ba Ria – Vung Tau down 18.2%; Vinh Long down 15.7%; Soc Trang decreased by 15.5%; Lai Chau down 15.3%; Da Nang decreased by 10.4%; Bac Ninh decreased by 9.1%; Quang Ngai down 8.5%; Ha Giang fell 6%. Localities with a low in the index of electricity production and distribution: Tra Vinh decreased by 33.7%; Ha Giang decreased by 29.8%; Ba Ria – Vung Tau down 25%; Lai Chau down 15.5%; Da Nang down 11%; Quang Ngai decreased by 10.3%. Localities with mining industry decreased: Ha Giang decreased by 26.9%; Ba Ria – Vung Tau down 11.6%.

[9] Source: National Enterprise Registration Information System, Business Registration Management Agency, Ministry of Planning and Investment (Received the report on 24^th February 2023)

[10] According to the report of the Foreign Investment Department, Ministry of Planning and Investment, received on 22/2/2023.

[11] Report on the implementation of Resolution No. 01/NQ-CP and No. 11/NQ-CP of the Government in the field of finance – state budget in February 2023.

[12] The value of export turnover is calculated at F.O.B price and the value of import turnover is calculated at C.I.F price (including transportation and insurance costs of imported goods).

[13] Estimated total export and import value in February 2023 provided by the General Department of Customs on February 24, 2023. The General Statistics Office estimated the import and export value of key commodities in February 2023 based on preliminary data provided by the General Department of Customs by February 23, 2023.

[14] Total export and import turnover in two months of 2022 reached 110.7 billion USD, went up 15% over the same period last year, of which exports reached 55.2 billion USD, increased by 13%; import reached 55.5 billion USD, went up 17%.

[15] The trade surplus in January 2023 was estimated at 3.6 billion USD.

[16] The domestic electricity price index in February 2023 is calculated based on the revenue and consumption of electricity from the date of January 1-31, 2023, thus reflecting movements one month later than other commodities

[17] The domestic water price index in February 2023 is calculated based on the revenue and consumption of electricity from the date January 1-31, 2023, thus reflecting movements one month later than other commodities.

[18] The rate of decrease in price index of educational services group in February compared to the previous month of Thai Binh decreased by 20.93%; Nam Dinh decreased by 13.25%.

[19] Rice group index increased by 0.1% (Delicious rice increased by 0.03%; ordinary rice increased by 0.13%; sticky rice decreased by 0.03%). Besides, the price of flour and other grains in February increased by 0.94% compared to the previous month, the price of processed food increased by 0.54% (noodles, noodles, pho, instant porridge increased by 0.75%; vermicelli by 0.46%; cornmeal by 0.77%; bread by 0.36%).

[20] February pork prices fell 1.62%; poultry meat price decreased by 0.39%; the price of eggs of all kinds decreased by 1.95%; The supply of vegetables was abundant, vegetable prices decreased by 2.81%. Besides discounted items, the price of fresh seafood increased by 0.37% over the previous month due to the increase in input material prices and transportation costs; vegetable oil by 0.42%; fish sauce, dipping sauce increased by 0.73%; fruits of all kinds increased by 1.24%; condiments increased by 0.14%; milk, butter, cheese increased by 0.3%.

[21] The demand for spring festivals at the beginning of the year increased sharply, of which the price of meals outside the family increased by 0.42%; drinking outside the family increased by 0.48%; fast food take away increased 0.65%.

[22] CPI after excluding fresh food, foodstuff, energy and goods managed by the State including health services and education services.

[23] According to the report of the Border Gate Department, the Border Guard Command, the Ministry of National Defense and the Immigration Department.

[24]  The reporting period is from January 21, 2023 to February 20, 2023.

[25] From the end of December 2019 to February 22, 2023, there were 678.9 million cases of Covid-19 infection (6,792.6 thousand deaths).

[26] According to a quick report from the Office of the Ministry of Public Security and the Vietnam Maritime Administration (Ministry of Transport) on February 23, 2023.

[27] Summary of reports from 63 Departments of Agriculture and Rural Development, reporting period from January 19 to February 18, 2023.

[28] According to a quick report from the Ministry of Public Security on February 23, 2023.